Saudi buyer of Glasgow's Sauchiehall building keen on other UK, US assets | ZAWYA MENA Edition:
The Saudi Arabian investment company which announced the £60 million ($74.7 million) purchase of the Sauchiehall building in Glasgow city centre in Scotland on Monday as its first major international purchase is keen on doing other deals in the United Kingdom and the United States, one of the firm’s senior management told Zawya.
Ahmed Bucheeri, an investments principal at the 10 year-old firm, which has historically focused on investments in the kingdom, says that a change of management and of business model at the firm last year has led to it taking more of an international approach to its investment.
The firm, which has around 900 million Saudi riyals ($240 million) following the Sauchiehall building purchase, had traditionally focussed on asset management through investments in the kingdom's stock market, and investments in development properties in the country (mainly in Eastern province cities close to its Dammam headquarters).
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